Burwood CouncilEconomic profile
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Burwood Council area

Housing valuation

At June 2018, Burwood Council area had a median house valuation of $1,655,424, $914,980 higher than the median house valuation for New South Wales.

Housing valuation and rental data are a measure of the economic desirability of living in the local area. High housing prices usually indicate access to high-paid jobs and a very desirable area. However they can present issues in attracting and retaining key lower skilled workers. Lower housing prices indicate less demand and may be an asset for attracting people to live in the area. However they can also indicate lower paid and lower skilled jobs or a declining economy.

Housing prices often factor in a home ownership premium due to expected capital growth and the ability to customise the property, but rental costs are a more direct measure of the immediate economic value of living in the area. Increases in rents often have a more direct relationship to employment and demand for housing.

Hometrack 2014-2018, Housing Valuation System

Housing values
Burwood Council area20182014Change
Housing value (at June)Burwood Council areaNew South WalesBurwood Council area relative to New South WalesBurwood Council areaNew South WalesBurwood Council area relative to New South Wales2014 to 2018
House--------------
First Quartile$1,416,449$498,085+184.4%$985,415$361,802+172.4%+$431,034
Median$1,655,424$740,444+123.6%$1,162,414$508,933+128.4%+$493,010
Third Quartile$2,051,015$1,171,986+75.0%$1,437,333$799,290+79.8%+$613,682
Unit--------------
First Quartile$704,579$485,261+45.2%$547,011$343,269+59.4%+$157,568
Median$814,589$676,368+20.4%$623,255$496,521+25.5%+$191,334
Third Quartile$907,767$890,202+2.0%$681,531$659,154+3.4%+$226,236

Source: Hometrack 2014-2018, Housing Valuation System.

Housing values, 2018
Housing values, 2018 Third Quartile, New South Wales: $890,202 Median, New South Wales: $676,368 First Quartile, New South Wales: $485,261 Third Quartile, New South Wales: $1,171,986 Median, New South Wales: $740,444 First Quartile, New South Wales: $498,085 Third Quartile, Burwood Council area: $907,767 Median, Burwood Council area: $814,589 First Quartile, Burwood Council area: $704,579 Third Quartile, Burwood Council area: $2,051,015 Median, Burwood Council area: $1,655,424 First Quartile, Burwood Council area: $1,416,449
Source: Hometrack 2014-2018, Housing Valuation System
Change in housing values, 2014 to 2018
Change in housing values, 2014 to 2018 Third Quartile, New South Wales: $231,048 Median, New South Wales: $179,847 First Quartile, New South Wales: $141,992 Third Quartile, New South Wales: $372,696 Median, New South Wales: $231,511 First Quartile, New South Wales: $136,283 Third Quartile, Burwood Council area: $226,236 Median, Burwood Council area: $191,334 First Quartile, Burwood Council area: $157,568 Third Quartile, Burwood Council area: $613,682 Median, Burwood Council area: $493,010 First Quartile, Burwood Council area: $431,034
Source: Hometrack 2014-2018, Housing Valuation System

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